ReCommerce Marketplaces Are Growing 20 Times Faster Than the Broader Retail Market
14 December 2022 - 12:00AM
Business Wire
eBay, TOP100 winner “Sustainable Marketplaces operating in
Europe” is, in terms of ReCommerce, the largest seller of used,
second-hand, refurbished and repurposed items. A study carried out
by Cross-Border Commerce Europe.
Low price and sustainability appear to be two primary driving
factors based on feedback from global companies in the flourishing
ReCommerce sector. ReCommerce is the selling of previously owned
items through online C2C marketplaces to buyers who reuse,
refurbish, recycle or resell them. 93% consumers say inflation
impacts their decision to buy and sell pre-owned goods with an
increasing emphasis on making and saving money, thus accelerating
the growth of ReCommerce. The study was carried out by CBCommerce
with support from Checkout.com, FedEx Express, Lengow, nShift and
Payoneer.
In 2021, the EU ReCommerce market was valued at €75B. The
market is expected to grow to €120B by 2025 (+60%). Over the next
five years, the ReCommerce market share will grow from 10% to
14%.
The relatively new term ‘ReCommerce’ broke in the
preserving retail business where unrecycled goods and landfilled
waste wreak havoc on the environment. Taking the concept of the
monetary value in pre-owned or secondhand goods, ReCommerce
Marketplaces are sequestering unproductive business models and
inventing the circular economy whereby unused or second-hand
products are sold back, refurbished, or recycled. From fashion,
home furniture, DIY, books, cars to consumer electronics,
ReCommerce solutions, such as repair, remanufacture, rental
services, reconditioning, refurbishing and resale, are rewriting
the story in the traditional linear retail industry. Related
‘Ecological ReCommerce’ focuses on collecting used
items for the sole purpose of repairing or recycling and reselling
the reconditioned products.
#1 eBay and the Circular Economy - A continued look at
advancing sustainability through ReCommerce. Selling second-hand,
refurbished, and repurposed items is a vibrant and important part
of the eBay seller ecosystem in the EU.
Best ReCommerce Consumer Electronics Top100
Marketplaces
A consumer advocacy organisation projected that EU consumers
waste €45B each year from not being able to repair electronic
products: smartphones accounted for approximately 12% of global
electronic waste in 2021. From the consumer electronics online
trade is resale 6% and refurbished 5%, counting for a ReCommerce
total market share of 11%.
Infographic:
https://docs.cbcommerce.eu/press-releases/sustainable-marketplaces/pr-top100-sustainable-marketplaces-2022.pdf
Full press release:
https://www.cbcommerce.eu/press-releases/recommerce-marketplaces-are-growing-20-times-faster-than-the-broader-retail-market/
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221213005088/en/
Carine Moitier - info@cbcommerce.eu